Cannabis Stocks Alert: Is HEXO Stock a Buy?

Investors in cannabis stocks are remaining alert as shares of various stocks in the field have been seeing heavy trading over the last few weeks. That’s also true of Canadian cannabis-producing company Hexo (NYSE:HEXO), which has been on a wild ride Tuesday.

Image of cannabis on top of dollar bills
Source: Shutterstock

Starting off, HEXO stock got a massive boost in early trading today. That came alongside heavy trading of the stock. As of this writing, some 102.17 million shares had changed hands. For comparison, its daily average trading volume is only 5.71 million shares.

Cannabis stocks investors that are eyeing HEXO on the news alert of its movements today will want to note that the company is preparing for a reverse stock split. This has it planning to consolidate down eight shares of the stock into a single share.

So, is HEXO stock worth investing in? Let’s see what InvestorPlace’s own writers have to say about the cannabis stock.

The Bull Argument for HEXO

The Bear Argument Against HEXO

HEXO stock was down 4.5% as of noon Tuesday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/cannabis-stocks-alert-is-hexo-stock-a-buy/.

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